Lennar (LEN) Revenue — Quarter Ended Aug 31, 2023
Revenue for the quarter rose from the immediately preceding period, yet fell short of the same quarter one year earlier. The sequential gain was offset by a year-over-year decline.
Key takeaway
Quarter ended Aug 31, 2023 · FY2023 Q3
Revenue for the quarter rose from the immediately preceding period, yet fell short of the same quarter one year earlier. The sequential gain was offset by a year-over-year decline.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$8.7B
Revenue reported for this quarter.
Quarter-over-quarter
+8.5%
Change from the immediately preceding quarter.
Year-over-year
-2.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$33.4B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Nov 30, 2022 | $10.2B | +20.6% |
| Feb 28, 2023 | $6.5B | +4.6% |
| May 31, 2023 | $8B | -3.8% |
| Aug 31, 2023 | $8.7B | -2.3% |
Revenue performance
The reported revenue moved higher compared to the prior quarter, reflecting a rebound in the period. However, the total was lower than the corresponding quarter a year ago.
Quarterly comparison
Relative to the preceding quarter, revenue improved. In contrast, versus the same quarter last year, revenue decreased.
What to watch
The year-over-year contraction may warrant monitoring of demand trends.